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Our company produces 100% fresh pressed apple juices in different packages (5l, 3l, 200ml).
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More information: www.almatar.hu
Nomura Foresees Self-Assured Economy For Hungary In The Short Term
bbj.hu/ Christian Keszthelyi
Nomura sees the Hungarian economy taking a positive turn in the short term which could extend into the middle of the year – based on rating expectations, growth and deleveraging as well as banking sector turnaround in government policy, the Japanese financial company said today in a press release. More...
Hungary Launches State-Owned Utilities Company
bbj.hu / Christian Keszthelyi
The Hungarian state is launching a holding company that will act as an “efficient, predictable and cheap” utilities provider, state secretary Zsuzsa Németh said at a press conference today. More...
Hungary Discusses Energy With Serbia
bbj.hu
Prime Ministers Viktor Orbán of Hungary and Aleksandar Vucic of Serbia, and Foreign Ministers Péter Szijjártó of Hungary and Ivica Dacicheld of Serbia held talks at an informal meeting in Subotica yesterday, to discuss the energy security of the region and the possibility of boosting bilateral economic cooperation, Bertalan Havasi, the Hungarian prime minister's press chief, told Hungarian news agency MTI. More...
MNB: Hungary's Current Account Surplus €370 Million In December
Hungarian News Agency / Hungarian National Bank
Hungary's current-account surplus was at €369.9 mln in December, bringing Q4 surplus to a preliminary €1.21 bln, the monthly balance of payment data published by the National Bank of Hungary (MNB) this morning reveals. Download full report from the Central Bank's website.
EC Gives Green Light To Five Hungarian Operative Programmes
Hungary Today
The European Commission (EC) has approved five of Hungary’s operative programmes for European Union funding in 2014-2020, the EC announced. The EC approved funding of 8.8 billion euros for economic development and innovation programmes, 3.97 billion euros for the regional development programme, and 927 million euros for a programme supporting the competitiveness of central Hungary. A combined 7.7 billion euros was approved for transport development, environmental and energy efficiency operative programmes. More...
Hungary Suspends Buda-Cash Brokerage, Four Small Banks
Reuters / By Gergely Szakacs
Hungary's central bank seized control of Buda-Cash and four small lenders with links to the brokerage on Tuesday saying the company could not account for about 100 billion forints ($371 million) of client cash. The National Bank of Hungary, the country's financial sector regulator, said it had filed a report and a criminal complaint with police. Buda-Cash clients' access to securities and other assets has been suspended pending further investigation. More...
CEE Commercial Real Estate Investment Up 28 yr/yr, Hungary Ranks 5th
portfolio.hu
Commercial real estate investment in Central and Eastern Europe (excluding Russia) rose 28% year-on-year and reached just over EUR 7.7 billion in 2014 according to the latest research from CBRE. Poland retained its leading position, with investment volume close to EUR 3.1 billion for the 12 months to 31 December 2014, a similar level to that of the last four years. An additional EUR 2.3 billion was traded in Russia, compared to EUR 5.3 billion in 2013. More...
CME: What was Behind Pork and Hog Market Trouble this Winter?
The Pig Site
Livestock and meat markets have reminded us lately of the Anne Murray hit song of the ‘70s entitled “Sure Could Use A Little Good News Today.” And the pork and hog markets got some yesterday as Russia announced that it would begin the process of accepting some pork products from France, Hungary, Italy, Germany, Denmark and Netherlands. More...
Hungarian PM Calls Pending Anti-Bank Legislation "Historical"
NewEurope Online
Addressing parliament on the first day of its autumn session on Monday, Hungarian Prime Minister Viktor Orban called a new bill, set to go before the House "historical in significance." Orban said the new bill was in line with other government measures aimed at fairness. More...
Hungary Tightens Grip On Banks, Raises Bill For Loan Refund Costs
Reuters - By Krisztina Than and Gergely Szakacs
Hungary tightened the screw on banks on Friday by imposing a ban on interest rate and fee hikes just as they must find more than 3 billion euros ($4 billion) in refunds on loans granted over the past decade.
Hungarian PM: EU Shot Itself In Foot' With Russia Trade Sanctions
EU Business
The EU "shot itself in the foot" by imposing trade sanctions on Russia over the Ukraine conflict, Hungarian Prime Minister Viktor Orban said in a radio interview Friday. More...
Hungary Cuts Base Rate To Record Low, Ends Long Easing Cycle
AFP
Hungary's central bank MNB cut its main interest rate to a record low of 2.10 percent on Tuesday, ending a two-year-long monetary easing cycle aimed at stoking economic growth. More... - Further reading on Bloomberg's
Hungary Sheds Light On Attractive June Budget Deficit Figure
portfolio.hu
Hungary’s National Economy Ministry has on Monday published detailed figures for the budget balance of the first half of the year. It has confirmed the preliminary data that in June there was a HUF 132 bn shortfall, an extremely low figure for the month. More...
Borsodchem to Build New Plant in Kazincbarcika for EUR 84 Million
MTI - Gov't Press Office
BorsodChem Zrt, the Hungarian subsidiary of the Chinese Wanhua Industrial Group, is to build a new plant for hydrochloric acid conversion in Kazincbarcika with government support. The investment of EUR 84 million will create at least 70 new jobs, announced Péter Szijjártó, State Secretary of the Ministry of Foreign Affairs and Trade and Jiansheng Ding, chairman and CEO of BorsodChem on Monday in Budapest. More...
Emirates To Launch Daily Flights To Hungary
Trade Arabia
Dubai-based Emirates airline is set to commence services to Hungary from October 27 with a daily flight to the capital Budapest. The airline will offer 278 seats per day on the Dubai-Budapest route, operating a wide-body A330-200 aircraft in a two-class configuration, said a statement. More...
IEER Monthly Bulletin of Economc Trends - June 2014
A new project launched by the IEER research team has investigated if online media could be used to predict investment willingness in the private sector. More than twelve thousand articles containing investment-related terms, were analised from this aspect. In the second part IEER brings macroeconomic trends into focus and, summing up the forecasts of international organisations, finds that economic recovery in the Eurozone is likely to continue in the rest of the year. Read or download the IEER Bulletin from here.
Tea For Two - Hungarian Designer's Set Made From Paper
CB Creative Bloq
Crafting exciting new products for everyday use needs plenty of creativity and a unique approach. Bringing a breath of fresh air into the crockery market is Hungarian based designer Edina Andrási who has used her love of paper art to produce a paper tea set. More...
Hungary May Rethink But Not Scrap Bank Tax - Minister
Reuters - Reporting by Marton Dunai
Hungary may revise its bank tax as new measures to unwind foreign currency loans could be costly for lenders, but it will not scrap the tax altogether, Economy Minister Mihaly Varga told public radio on Monday. More...
Hungarian, Serb, Bulgarian Chambers To Convene Here
Budapest Business Journal
The Chambers of Commerce and Industry of Serbia, Hungary and Bulgaria on Wednesday made a multilateral commitment to greater cooperation on economic development and energy security. More...
No Discussions About Launching EDP Against Hungary
kormany.hu
Minister of National Economy Mihály Varga said in connection with a critical report published by the European Commission that there was "absolutely no talk" about launching an excessive deficit procedure (EDP) against the country. More...
EU Warns Hungary of Deficit-Procedure Risk on Rising Debt
Bloomberg- by Marton Eder
Hungary may need additional budget cuts to lower government debt and avert the risk of re-entering the European Union’s budget monitoring process, the 28-member bloc’s executive said today. More...
Latest Statistics: Agricultural Prices, Industrial Output, Consumer Prices
Central Statistical Office
- Agricultural producer prices decreased by 8.9% in April 2014 y/o/y. The price of crop products fell by 13.6%. - Full report on CSO website.
- In April 2014, industrial gross output grew by 10.1% compared to the same month of 2013 mainly due to a rise in the sales of transport equipment. Full report on CSO website.
- In May consumer prices decreased by 0.1% compared to May 2013. - Full report on CSO website.
Hungary Exim Bank Inks Important Deal With IFC
portfolio.hu
IFC (International Finance Corporation), a member of the World Bank Group, and the Hungarian Export-Import Bank have agreed to streamline their collaboration to provide much-needed financing to private companies and help boost growth and jobs in emerging markets. More...
Prime Minister Orbán’s New Government Sworn In
kormany.hu
President János Áder formally appointed the ministers of Prime Minister Viktor Orban's third government on Friday. Later, Parliament held a session at which Prime Minister Orbán addressed the new cabinet before their oath-taking ceremony. The goal of the cabinet formed on Friday is to operate a people's government, he stated, which is based on the classic idea of Abraham Lincoln: "Of the people, by the people, for the people." Hungary's government must lead a unified and strong nation forwards along the path that it embarked upon four years ago, he emphasised. More...
Corinthia Hotel Budapest Launches The Grand Budapest Hotel Package
Luxury Travel Magazine
Corinthia Hotel Budapest, originally the Grand Hotel Royal, launches a new package to celebrate the Oscar success of 'The Grand Budapest Hotel' and cinematic past and present of Hungary’s capital. The buzz around Wes Anderson’s ‘The Grand Budapest Hotel’ has been firmly reinstated – as the movie ran away with four Oscars. Did Anderson perhaps get his inspiration for this enchanting hotel when he stayed at and did a back-of-house tour at Corinthia Hotel Budapest in 2012? More...
Hungary Central Bank Expands Lending Scheme To SMEs
portfolio.hu
The National Bank of Hungary (MNB) is to launch the FGS+ programme to give a boost to lending to small and medium-sized enterprises, central bank Governor György Matolcsy has told a press conference on Wednesday. Contrary to previous reports, the Funding for Growth Scheme will be expanded not to large corporates but to SMEs that have carried too high risks for the banks to lend them at a rate capped at 2.5%. Matolcsy believes the FGS will add one percentage point to growth this year and probably in 2016 too. More...
President Putin's Talks With PM Orban In Budapest - (Snippets From The Joint Press Conference)
- (Telegraph) The Russian president said that Hungary and Russia had “unquestionable potential for increasing cooperation in the economic sphere.”
- (Reuters) Hungary and Russia have reached a political deal on Russian gas shipments to Hungary, Prime Minister Viktor Orban said on Tuesday after a meeting with Russian President Vladimir Putin.
- (Associated Press) Orban said "Hungary needs Russia" and it was important for Russia to be open to Hungarian products, which have been affected by Russia's ban on EU imports - a countermeasure to EU sanctions against Russia because of the Ukraine crisis.
- (novinite.com) The Russian nuclear power corporation Rosatom will start the construction of two units at the Hungarian nuclear power plant (NPP) Paks in the spring. This was announced by the chief executive of Rosatom Sergey Kiriyenko in Budapest on Tuesday, TASS news agency reports.
Hungarian Rhapsody: Will Putin’s Visit To Viktor Orban Give Russia A Way Into Europe?
Russian Times
Vladimir Putin has chosen Hungary for his first state visit to an EU state since the beginning of the Ukrainian crisis a year ago. Energy issues are expected to top the agenda, yet the Russian leader usually has an ace up his sleeve. More...
Private Banking: Shrinking Margins, Stagnating Client Base
bbj.hu / Gabriella Lovas (The article is from the February 13-26 print edition of the Budapest Business Journal)
While the 2008 financial crisis questioned the justification for structured products globally, the recent decision of the Swiss National Bank to scrap the euro peg has revealed risks - not previously perceived by domestic investors - for the entire Hungarian market of derivative funds, according to Blochamps Capital CEO István Karagich.
Gurit Invests In Hungary Site But Cuts Jobs In UK
European Plastics News
Gurit, the Swiss composite materials group, has announced a three step plan to shape the future of its Composite Components business, which will result in a CHF 6m (€5.65m) investment programme during 2015 at the company’s existing production facility in Hungary, but will also see job cuts in UK. More...
KSH: Retail Sales Increase 5.1% In November
Budapest Business Journal / Christian Keszthelyi
Hungarian retail sales grew by a year-on-year 5.1% in November according to both calendar year-adjusted and unadjusted data, however the figures were revised slightly down from 5.2% in a first reading released on January 8, the Central Statistics Office (KSH) reported today in a second reading of data. More...
Draghi Plays Muse as Hungary's Interest-Rate Stance Eases
BloombergBusiness / Marton EderZsofia Vegh
The lowest inflation in almost five decades and unprecedented stimulus in the neighboring euro area is prompting Hungary’s central bank to revisit a pledge to keep interest rates on hold this year. More...
Coming Soon: 3rd European Parliament of Enterprises
Exactly one month from today, about 1000 business representatives from 45 European countries, including 21 from Hungary, will gather in the hemicycle of the European Parliament in Brussels for the third edition of the European Parliament of Enterprises (EPE). The European Parliament of Enterprises is the largest event at EU level that gives the floor directly to entrepreneurs, allowing them to provide politicians with bottom-up feedback on EU policies. For more, click on the title.
Countries of Danube region support South Stream
In Serbia News
Hungary, Serbia and Bulgaria, and the chambers of commerce of these countries support the construction of the South Stream gas pipeline, arguing that it will help the economic development of these countries and they therefore expect that the EU and Russia will come to an agreement concerning the project. More...
Wine Review: Hungary's Furmint Grape
The Telegraph
If you like tokaji, you’re already a fan of furmint. And now its time has come. Hungary’s furmint seems to be having a bit of a moment. You may not have heard of it yet (and yes, it does sound like a toy for cats), but furmint is a grape variety you’ve quite possibly enjoyed before, without knowing. More...
Central European Factory Output Mixed in July, Still Mostly Strong
WSJ Emerging Europe - By Leos Rousek
Central Europe’s factory output was mixed in July, going strong in the Czech Republic and Hungary, but hitting a bump in Poland reflecting varied domestic demand across the region and different connections with key euro-zone export markets, data showed Friday. More...
CEE MONEY - Hungary Could Risk Forint Selloff With Fx Loan Conversion
Reuters - By Krisztina Thán
Hungary could risk a selloff in its currency by converting its huge stock of Swiss franc and euro mortgages into forints as the timing looks tricky: the planned conversion will take place after the Fed ends its stimulus programme. More...
Hungary Construction Output Soars By Nearly 30% in May
portfolio.hu
Hungary’s construction output grew by 28.7% year on year in May, according to both unadjusted and working day adjusted data, the Central Statistical Office (KSH) reported on Tuesday. Output rose in annual terms in both main groups of constructions: i.e. in the construction of buildings and civil engineering works by 17.0% and 40.4% respectively. Construction output was up 2.2% month on month, according to figures adjusted seasonally and for working days. In the first five months of 2014, the production was up by 27.8% compared to the same period of 2013. More...
Hungary Sees Debt Stagnating in 2014 as EU Warns on Risks
Bloomberg - By Edith Balázs
Hungary expects the government’s debt level to stagnate this year after the European Union warned the country should lower the borrowing burden to avert re-entering the bloc’s budget monitoring process. The cabinet forecasts government debt will be 78.15 percent of annual output at end-2014, compared with 78.26 percent a year earlier, according to an Economy Ministry projection published by research group Fiscal Responsibility Institute on its website. - More...
Why Did Hungary's Industrial Production Grew By Nearly 10% In May?
porfolio.hu
Hungary’s industrial gross output grew by 9.6% year on year in May 2014, according to both raw figures and data adjusted for working days, the Central Statistical Office (KSH) reported on Monday. On a monthly basis, though, industrial production dropped 1.0%. More...
Hungary Sees Foreign Trade Surplus Shrinking
Portfolio.hu
Hungary's foreign trade surplus has become smaller and smaller with every month recently. The May figure is in line with that trend, revealing a minor setback in export dynamic, with imports growing faster than exports do. More...
Hungary's Operator-Backed Group Estimates 350-400K First-Round Wallet Users
Mobile World Live - by Richard Handford
The Hungarian Mobile Wallet Association has put a figure of 350,000 to 400,000 on the number of initial users for its proposed payments and loyalty service. More....
Latest Statistical Data: Retail, External Trade, Government Expenditure
Central Statistical Office
- The volume of retail trade rose slightly in May. The restructuring of tobacco retailing has also led to changes in statistical data records, making H1 figures incomparable to those in the first six months of the previous year. Read the full report at the CSO's website.
- External trade surplus was EUR 629 million in April. Y/o/y the volume of exports was 6.5% higher. Read the full report at CSO's website.
- Preliminary data show the deficit of the general government sector in Q1 2014 was HUF 256.6 billion, or 3.6% of GDP. Read the full report at the CSO's website.
Travel: Escaping, Literally, in Budapest and Beyond
New York Times - By Lisa Abend
It took only a few minutes after the door locked behind us for the atmosphere in the cramped room to turn tense. A hasty note, left behind on a battered table, warned us that we had only an hour to get out, and it soon became clear that our escape route lay behind a second door. More...
Hungary's Banks Urge Fair Legislation On FX Loans
Reuters
Hungary's banks accused the government on Tuesday of holding them collectively responsible for borrowers' problems after shifts in the exchange rate soured once-popular foreign currency mortgages. More...
Latest Statistics: Agricultural Prices, Industrial Output, Consumer Prices
Central Statistical Office
- Agricultural producer prices decreased by 8.9% in April 2014 y/o/y. The price of crop products fell by 13.6% and that of live animals and animal products increased by 0.9%. - Full report on CSO website.
- In April 2014, industrial gross output grew by 10.1% compared to the same month of 2013 due to mainly a rise in the sales of transport equipment and the related supplier branches, as well as of food industry. - Full report on CSO website.
- In May consumer prices decreased by 0.1% compared to May 2013. - Full report on CSO website.
Orbán: Sectoral Taxes Will Stay; Personal Income Tax Will Shrink
Budapest Business Journal
The special taxes on the the financial, energy, retail and telecommunications sectors will remain in place for as long as the ruling Fidesz government is in power, Prime Minister Viktor Orbán said today. More...
Hungry In Hungary: Budapest Is A New Foodie Capital
The National - John Burton
Budapest is one of Europe’s hottest destinations right now. Lauded a century ago as the glittering Paris of Mitteleuropa, the capital of Hungary is in the midst of a new renaissance, with its sumptuous turn-of-the-century palaces brought back to life as luxurious hotels, along with a foodie revolution sweeping through the city from gourmet restaurants to funky food trucks. There are cutting-edge art and design projects springing up in everything from ruined mansions to abandoned factories, a hip nightlife scene that rivals London or Berlin, while the city’s iconic thermal baths, which have been the favourite pastime of locals for 500 years, are being spruced up and transformed into modern spas without losing any of their unique charm. More...
Hungary Industry Output Grows at Fastest Pace in 3 Years
Bloomberg - By Zoltán Simon
Hungary’s industrial-output growth unexpectedly accelerated at the fastest pace in three years as carmakers raised production, boosting Prime Minister Viktor Orban’s bid to regain the country’s investment credit grade. More...